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Southwark Council purchasing Courage Yard

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Saturday 19 January 2019 10.58am
It's interesting that the council is purchasing retail/commercial land and properties to generate income. This sentence in the report is interesting too: "To date the retail element of the development has never lived up to its potential, with units often remaining empty for years at a time." Perhaps the council know how better to market it. Colombia Threadneedle made a decent profit though didn't they? "bought the site for around £48 million in 2015 and refurbished and rebranded the complex as Courage Yard before putting it on the market for £89 million last autumn." I wonder how much they spent on refurbishment.
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Saturday 19 January 2019 11.49am
Silly - I wonder who the tenant(s) are - how much they pay & likelihood of default on payment - potential to go bust.

Councils should not be risking our money in this way - better to invest in housing!.
Saturday 19 January 2019 12.12pm
Although the shops are the element that most of us are most likely to interact with, it'll be the offices (the HQ of Zoopla) that generate the bulk of the income for the council.

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Saturday 19 January 2019 12.18pm
Homes are what’s needed. Zoopla most likely have a 5 year break clause and should they grow - shrink can easily move to new offices.
Sunday 20 January 2019 9.26am
Don't worry, Glasgow City Council are building 48 storeys of housing on Old Kent Road!
Sunday 20 January 2019 4.25pm
Can’t make it up. Is Southwark Council now a City of London Investment House.

Kind of reminds when Mutuals were given freedom to be “Investment Banks” and we know what happened to Northern Rock!.

Unbelievable.
Sunday 20 January 2019 4.31pm
So Southwark Council is now a City of London Investment House!.

Kind of reminds me when Mutuals were given free reign to try & be Investment Banks. We know what happened to Northern Rock!.

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